Ontology Partnership With CarBlock: An Innovative Deal

Ontology is a popular distributed platform with applications in the trust collaboration sector. The multi-chain operation has recently come forward with information regarding a new partnership, this time with CarBlock. The latter company has been at the forefront of the automobile industry’s integration of blockchain technology.

Claiming significant real-world applications outside of the financial sector, the startup company has offered users with several services. In particular, the organization has made use of distributed technology to peer rentals, repair and maintenance, insurance, and the communication of dealerships and reports through the use of the company’s tokens, known as CAR tokens.

The full nature of the partnership will likely come clear within the coming months. But for the time being, Ontology and CarBlock will be working together on the creation of a central technology tasked with integrating the two businesses together, as well as allowing them to work together on key community-based operations and undertakings.

One known usage of the two technologies in a unified platform is the integration of Ontology trust technology in an attempt to certify car owners before CarBlock airdrops tokens to their cars for use in a variety of services. The partnership is the latest step in the Ontology real economy strategy, a long-term ideological conviction with the end goal of providing a comprehensive ecosystem for a trusted, fair, automated economic system.

Automotive Industry Impacts

In the Ontology plan, CarBlock will be tasked with creating the platform to store transport data, and will rely heavily on the blockchain technologies provided by Ontology and CarBlock to rely information from one host to another. The two key technical components of the platform include the chain network by Ontology and the hardware and Internet-of-Things capabilities of the CarBlock ecosystem.

The transport platform’s use of the distributed ledger technology could help to revitalize the US automotive industry, which could really use the extra help in 2018. The industry is worth nearly USD $1 trillion, but competition from foreign sources had made it difficult for all-American companies to compete in the growing market.

CarBlock’s founder, Jia Li, outlined several of the key facts regarding Ontology’s involvement with CarBlock in this latest venture. Specifically, he noted that the technical prowess of Ontology will be a key asset in CarBlock’s efforts to promote Ontology’s growing ecosystem and expand their own operations within the automotive sector.

Jun Li, Ontology’s founder, also commented on the recent partnership. He remarked that the company was “pleased to cooperate” with the automotive organization. Additionally, the organization’s head was happy to announce that the company would be working with CarBlock to further their real economy prerogative. He felt that the partnership would be integral to the long-term goal of securing effective transport data circulation, as well as an “overall enrichment of the Ontology ecosystem.

Conclusion

The automotive industry has never been more in-need of innovative modern blockchain solutions. CarBlock is one major organization working to put distributed network technology to use to change the way that things interact within the automobile sector.

The company’s latest partnership with trusting economics provider Ontology helps to further a number of major goals within the company in their road to a diversified solution to the pressing problems facing the industry.

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